Published on 01 Mar 12
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
In this article, the authors discuss the practical difficulties of applying the six-year absence rule for the purposes of New South Wales land tax. This rule allows a homeowner to rent out their principle place of residence for up to six years without paying land tax. It is submitted that the operation of the rule makes it practically unworkable. Examples are provided which highlight the fact that this rule is almost nullified by pragmatic difficulties. However, one option is discussed which may go some way towards assisting with these difficulties. The rule is also juxtaposed with the capital gains tax provisions in the federal income tax law.
Matthew is a Tax Consultant with CABEL Partners.
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